Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The adjusted trial balance for Oriole Corp. at the end of the current year, 2018, contained the following accounts 5-year Bonds Payable 8% $1530000 Interest

image text in transcribed

The adjusted trial balance for Oriole Corp. at the end of the current year, 2018, contained the following accounts 5-year Bonds Payable 8% $1530000 Interest Payable 55000 Premium on Bonds Payable 153000 Notes Payable (3 mo.) 44000 Notes Payable (5 yr.) 143000 Mortgage Payable ($10000 due currently) 300000 Salaries and Wages Payable 15000 Taxes Payable (due 3/15 of 2019) 25000 The total long-term liabilities reported on the balance sheet are $2126000. $2116000 $1973000. $1963000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions